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Novanta Inc. (NOVT) designs, develops, manufactures, markets, and sells precision photonic and motion control components and subsystems to original equipment manufacturers in the medical equipment and advanced industrial technology markets worldwide.
The company operates in three segments: Photonics, Vision, and Precision Motion.
The Photonics segment offers photonics-based solutions, including CO2 laser sources, and laser scanning and laser beam delivery products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, and medical laser procedures.
The Vision segment provides a range of medical grade technologies, including visualization solutions, imaging informatics products, optical data collection and machine vision technologies, RFID technologies, thermal printers, light and color measurement instrumentation, and embedded touch screen solutions.
The Precision Motion segment offers optical encoders, precision motor and other motion control technology, air bearing spindles, and precision machined components.
Shares have formed a bullish "cup and handle" following its purchase of European World of Mdicine for 115 million euros. World of medicine is a maker of medical insufflators, pumps, and related disposables to Original Equipment Manufacturers in the minimally invasive surgery market. The formation is supported by the stock's 30-day moving average. Higher share prices are expected for this stock.
52-Weeks Trading Range: $14.57 - $39.00
Entry Point: $36.80
Stop Loss: $34.75
Target Price: $40.48
NOVT closed at $38.95
